As per the current market research conducted by CMI Team, the global Dry Wine Yeast Market size is expected to record a CAGR of 5.4% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 1.9 Billion. By 2032, the valuation is anticipated to reach USD 3.1 Billion.
Dry Wine Yeast Market: Growth Factors and Dynamics
- Increasing Wine Production: The Dry Wine Yeast Market is experiencing robust growth, thanks to the ongoing expansion of the global wine production industry. With wine consumption on the rise and new markets emerging, winemakers are increasingly turning to dry yeast for its numerous advantages in fermentation processes. The cost-effectiveness, ease of storage, and reduced risk of contamination associated with dry yeast are driving its adoption by wineries worldwide.
- Quality and Consistency: Dry wine yeast stands out as a key growth factor due to its ability to ensure quality and consistency in the fermentation process. Winemakers are increasingly relying on specific dry yeast strains to achieve predictable and desirable flavors, aromas, and characteristics in their wines. This consistency is crucial in meeting consumer expectations and building a brand reputation.
- Extended Shelf Life: Dry wine yeast’s longer shelf life is a major catalyst for market expansion. Its extended viability reduces waste, minimizes the need for frequent purchases, and simplifies inventory management for wineries. Furthermore, the reduced risk of contamination during storage makes dry yeast an attractive choice for winemakers, contributing to the market’s dynamics.
- Global Expansion of Winemaking: The global winemaking industry is in a phase of notable expansion, with new wineries and vineyards cropping up in various regions. Dry yeast, with its ease of use and dependable fermentation characteristics, is well-suited for wineries in diverse geographic locations. This broad accessibility is a significant driver of market growth.
- Research and Development: Ongoing research and development efforts are a pivotal element of the Dry Wine Yeast Market’s growth. Yeast manufacturers are continuously innovating, creating specialized dry yeast strains tailored to different grape varieties and winemaking styles. These customized yeast strains cater to the diverse needs of winemakers, enhancing the market’s dynamism and expanding its potential.
- Sustainability and Cost Efficiency: Sustainability and cost efficiency have become prominent concerns in the wine industry. Dry wine yeast, offering lower transportation costs, reduced storage space requirements, and a longer shelf life, is considered a more environmentally friendly and cost-effective option compared to liquid yeast. This focus on sustainability and efficiency is driving the market, as it aligns with the broader industry trends and priorities. As a result, winemakers are increasingly turning to dry yeast to meet their fermentation needs while minimizing their environmental footprint and operational costs.
Dry Wine Yeast Market: Partnership and Acquisitions
- In 2022, Lesaffre acquired Recombia Biosciences, a biotechnology firm with expertise in high-throughput genome editing and synthetic biology. This strategic move allows Lesaffre to harness Recombia Biosciences’ genome-editing technologies to expedite the development of yeast strains for sustainable production of fermented ingredients, aligning with their commitment to innovative and eco-friendly solutions.
- In 2021, Angel Yeast (Dehong), a subsidiary of Angel Yeast, is set to launch a green manufacturing project for yeast extracts, targeting an annual production capacity of 15,000 tons. The total budget for this initiative is approximately 434 million yuan.
Dry Wine Yeast Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the Dry Wine Yeast Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disruption in Supply Chains: The COVID-19 pandemic disrupted global supply chains, affecting the timely availability of dry wine yeast. Lockdowns, restrictions on transportation, and labor shortages in manufacturing facilities led to delays in production and distribution.
- Reduced Demand in HORECA: The closure of hotels, restaurants, and bars (HORECA) during the pandemic resulted in reduced wine consumption, especially in the on-trade sector. This decline in demand impacted winemakers and suppliers, affecting the sales of dry wine yeast.
- Increased Online Sales: To adapt to the restrictions on physical sales channels, suppliers of dry wine yeast increased their online presence. E-commerce platforms and direct-to-consumer sales channels experienced a surge in demand, allowing winemakers to access the products they needed.
- Rising Wine Production: As economies reopened, wine production resumed and, in some cases, increased to meet the pent-up demand. This upward trend benefited the dry wine yeast market, as wineries required reliable yeast products to maintain and improve the quality of their wine.
- Resilience in Home Winemaking: Many individuals turned to home winemaking as a recreational activity during lockdowns. This trend continued even after restrictions eased, contributing to a sustained demand for dry wine yeast products.
- Diversification of Product Offerings: To adapt to changing market dynamics, some dry wine yeast manufacturers diversified their product offerings. They introduced new yeast strains tailored to the preferences and demands of winemakers facing evolving consumer tastes and market trends. This diversification contributed to market recovery by meeting a broader range of winemaking needs.
- Export Opportunities: As international travel and trade resumed, the Dry Wine Yeast Market benefited from renewed export opportunities. Winemakers from regions with surplus dry yeast products sought to tap into global markets, enhancing cross-border sales and boosting the market’s recovery. This international trade expansion helped the market regain its momentum.
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List of the prominent players in the Dry Wine Yeast Market:
- Lallemand Inc.
- Angel Yeast Co. Ltd.
- Lesaffre
- Fermentis (a division of Lesaffre)
- Renaissance BioScience Corp.
- Hansen Holding A/S
- AB Mauri
- Associated British Foods plc (ABF Ingredients)
- Biorigin
- Danstar Ferment AG
- MLR Hefebetriebs GmbH
- Bio Springer
- Kerry Group
- Hagley West Limited
- Gevax Gelatine GmbH
- Others
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